Business Opportunities Research Articles

Efforts to achieve sustainable competitive advantage for SMEs: The strategic entrepreneur model

The aim of this research is to examine and analyze the dimensions of strategic entrepreneurship that are able to realize long-term sustainable competitive advantage in small and medium businesses. This research methodology and sampling technique use a purposive sampling method, with a total of 150 respondents from Batik Small and Medium Enterprises industry leaders in Central Java Province, Indonesia. Then the analysis technique uses Structural Equation Modeling (SEM) with AMOS software. Empirical data supports the six hypotheses proposed in this study. Specifically, the first hypothesis is that entrepreneurial culture is influenced by entrepreneurial learning. The second hypothesis posits that entrepreneurial culture influences entrepreneurial capacity. The third entrepreneurial learning hypothesis is influencing entrepreneurial capacity. The four entrepreneurial capacities are influencing sustainable competitive advantage. The fifth hypothesis is that entrepreneurial learning influences a sustainable competitive advantage. The sixth hypothesis is that entrepreneurial culture influences a sustainable competitive advantage. The practical implication for realizing sustainable competitive advantage for batik Small and Medium Enterprises in Central Java Province, Indonesia, is to improve and develop entrepreneurial learning built by indicators 1). Experience 2). Cognitive; 3). Network; 4). Social relationships. Entrepreneurial learning and entrepreneurial capacity can mediate entrepreneurial culture towards sustainable competitive advantage. The strategic entrepreneurship development model begins with the establishment and enhancement of an entrepreneurial culture, which encompasses the following elements: 1). Enthusiasm 2). Stakeholder alignment 3). Learning and Development Support. 4). Change is driven by business opportunities.

Economy, Energy, and Environment Impact on the Use of Ferronickel Slag Waste for Construction Project in Indonesia

This research intends to investigate the economic, energy and environmental aspects of mortar and concrete manufactured with ferronickel slag (FNS) as a substitute for cement and aggregate because many infrastructure projects in Indonesia use waste materials, particularly FNS, as one of the construction components. Results indicate that incorporating FNS powder as one material in construction projects also has indirect benefits such as generating employment, and fostering local community economic growth. The grinding of FNS will provide business opportunities for Micro, Small and Medium-sized Enterprises (MSMEs). The use of FNS as sand replacement affords an economy advantage in concrete production which also benefits in the construction sector. In addition, utilizing by-products (FNS 1 and FNS 2) in mortar production has a beneficial effect on lowering the LCC. However, adding FNS in place of sand does not reduce the LCC of concrete constructed with FNS. The usage of FNS in place of cement appears to help reduce mortar's energy consumption. However, using FNS in place of sand throughout the concrete-making process has minimal impact on energy usage. There is an environmental benefit to using FNS 1 and FNS 2 in the mortar production process. When concrete is built using FNS as a sand substitute, the CO<sub>2</sub> emission does not show the same favourable outcomes as mortar made with FNS powder. Although it doesn't significantly reduce carbon emissions, FNS sand significantly improves concrete's performance.

Workshop Kewirausahaan Berbasis Digital Marketing sebagai Peluang Bisnis Pada Ikatan Remaja Masjid (IRM) Kecamatan Labuhan Deli Kabupaten Deli Serdang

Entrepreneurship is closely related to marketing, which is one of the keys to the success of a business or business that will be run by an entrepreneur, in this case of course, in this modern era, marketing is not only done conventionally (offline) but must also be supported by technology. or science and technology. The aim of this activity is to increase understanding regarding digital marketing-based entrepreneurship and improve skills related to digital marketing-based entrepreneurship. The results of this activity are a) The implementation of community service went smoothly in accordance with the expectations of the team implementing community service, because almost all workshop activities were carried out very well, b) The participants were aware of the importance of digital marketing-based entrepreneurship as a business opportunity, c) The participants' response to this activity was very interactive, where the participants asked many questions to the service team and d) broadened the participants' insight both in theory and practice regarding digital marketing-based entrepreneurship.

Climate change exposure and the takeover market: A text‐based analysis

AbstractWe examine the impact of takeover vulnerability on firm‐specific climate change exposure using sophisticated text‐based metrics generated from machine learning algorithms and a measure of takeover vulnerability primarily derived from state takeover laws. Based on a large sample of more than 28,000 observations, our findings show that firms more vulnerable to hostile takeovers have higher exposure to physical climate risks, as managers focus on short‐term financial performance over long‐term risk mitigation. These firms also reduce regulatory risk exposure by adopting stringent compliance measures and improving environmental practices to avoid penalties and attract investors. However, they are less likely to invest in new business opportunities related to climate change, prioritizing stability over potential gains in new business opportunities. Propensity score matching and entropy balancing confirm the robustness of these results. Our research provides insights into how hostile takeover threats influence corporate environmental strategies.

“Good” and “bad” frictions in customer experience: Conceptual foundations and implications

AbstractBusinesses often strive for frictionless customer experiences, assuming that customers always desire seamless interactions. However, recent academic and practitioner discussions suggest that not all forms of friction are detrimental. Reconciling the conflicting views, we propose a framework that defines friction as simply the effort customers exert to complete tasks related to their consumption goals. Furthermore, drawing from the goal striving theory and customer experience literature, we identify and propose four types of friction based on dimensions of task desirability and task value: frustrating, constructive, preference‐based, and rewarding. Our framework challenges the prevailing business practice of eliminating all friction, as evidenced by a topic modeling analysis of announcements related to achieving frictionless customer experiences. Instead, we posit that while frustration friction should be minimized, the other three types of friction offer opportunities for businesses to enhance customer value. Particularly, we caution managers that eliminating constructive friction (i.e., customer effort in low‐desirability, high‐value tasks) may hinder value creation. We also recommend that managers find opportunities to infuse rewarding and preference‐based friction to enhance customer experience. By understanding these nuances, businesses can strike a balance between friction reduction and value optimization in their customer experience designs.

Improved urban road network and small and medium enterprises’ financial performance: Evidence from Tanzania

This study assessed the impact of improved urban road network on financial performance of Small and Medium Enterprises focusing in Dodoma, Tanzania. The study employed a cross sectional research design where by a sample of 89 SMEs from the selected three wards in Dodoma city was used to draw the conclusion. Qualitative data collected through questionnaires were analyzed using content analysis while quantitative data analyzed using descriptive statistics and multiple regression analysis. The key findings from the study include: i) accessible roads to customers toward SME were having positive influence to SMEs performance ii) market accessibility by customers and consumers was the key factor in improving SMEs financial performance in Dodoma city and lastly, an effective time management and improved transportation of goods and services were positive related to the amount of sales revenue generated by SMEs. The conclusion is drawn to improve the urban road networks as among of the key factors in improving the performance of SMEs in Dodoma city by increasing sales and profit. It is therefore recommended that, the government and other stakeholders in the construction sector should continue to improve urban road networks and start offering basic business and financial management skills which would enable SMEs owners to make informed investment decisions as well as enhance their entrepreneurial skills which will facilitate in recognizing and exploiting the available business opportunities.

Kreativitas dan Inovasi Pelaku Usaha dari Penciptaan Kreasi Barang Bekas di Kelurahan Kembangan Selatan Jakarta Barat

Waste is one of the problems that is quite difficult to deal with in Indonesia. This happens because of the people's habits as consumers who always produce waste. Therefore, changing used goods into goods that can be reused can help reduce environmental pollution. Waste management is one of the main challenges in achieving environmental sustainability. This community service program aims to develop a used goods creation business based on business and environmental sustainability in Kembangan Selatan Subdistrict. The methods used include outreach, training and assistance to local communities in processing used goods into economically valuable, creative and innovative products. Through this program, it is hoped that the community can improve their skills in processing waste, create new business opportunities and reduce the amount of waste generated. pollute the environment. The results of this activity show increased awareness and community participation in protecting the environment, as well as the formation of several new business groups engaged in recycling. Business sustainability is measured through indicators of increasing income and quality of life for the community. Thus, it is hoped that this program can become a business development model that is not only economically profitable, but also contributes positively to environmental sustainability.

Employee lawsuits and business downsizing: Evidence from labor unions

In this paper, we examine how employee lawsuits are related to firms’ business decisions. By using union-filed lawsuit data, we document that litigation increases the likelihood of firms downsizing their businesses. Furthermore, cases filed by unions lead to an increase in both the number of store closures and the number of employees affected by these closures. We demonstrate that violations related to labor have a significant negative impact on operating performance. Our findings reveal the fact that the cost of labor, damage to reputation, legal liabilities, and diverted resources resulting from litigation damages firms’ new business opportunities. Overall, our results highlight the importance of employee treatment at the workplace, which affects corporate decisions.

Integrating Business Opportunities and Innovations Strategies to Improve Internally Generated Revenue in Nigerian Tertiary Institutions

Integrating Business Opportunities and Innovations Strategies to Improve Internally Generated Revenue in Nigerian Tertiary Institutions

Agroecosystem-based agricultural genetic resources for balanced and diversified food, nutrition, health, business, geographical indication and environment

ABSTRACT Nepal has 15 distinct agroecosystems spread across three major agroecozones: Tarai, Mid Hill, and High Hill. These regions support a rich variety of agrobiodiversity. This paper examines the significance of native agrobiodiversity within each of these agroecosystems for diversified food, nutrition, health, business and environment. The information presented is derived from various literature sources, discussions with key experts, and the authors’ own experiences. Each of these agroecosystems has cultivated and preserved numerous unique species, landraces, and genotypes of agrobiodiversity, including crops, forages, livestock, agro-insects, agro-microorganisms, and aquatic genetic resources. This agrobiodiversity is deeply connected with local cultures, traditional knowledge, and skills. The high diversity of agricultural genetic resources (AGRs) within Nepal’s relatively small area is a crucial factor for ensuring food security, nutrition, health, business opportunities, and environmental sustainability. Many niche products, prized for their purity, quality, taste, health benefits, and nutritional value, are sold at premium prices. However, the focus on production-centric agricultural programs over the years has led to the replacement of many niche-specific varieties by more uniform and limited ones. Introducing new genotypes into a particular agroecosystem may undermine the principles of ecological agriculture. Therefore, it is essential to enhance the competitiveness of native AGRs and associated indigenous technologies within each agroecosystem.

Membangun Budaya Kreatif Melalui Seni Batik di Yayasan Cinta Yatim & Dhuafa, Pisangan Barat, Kec.Cirendeu, Kota Tangerang Selatan

Abstract. Education plays an important role in shaping a bright and sustainable future, with creative and fun learning as the key to creating an inspiring learning environment. This article examines the event "SEBATIK - Batik Art for Creative Culture" held at the Yayasan Cinta Yatim dan Dhuafa, Cirendeu, South Tangerang on July 20, 2024. This event aims to introduce and preserve batik art, as well as to arouse interest and appreciation for traditional arts among the children of the foundation. With a creative and interactive approach, this workshop teaches basic batik techniques through training and direct practice, and provides appreciation to participants through prizes. The evaluation results show that this activity has succeeded in increasing the creativity and skills of children, as well as strengthening the relationship between the foundation and the community. This workshop also has the potential to open up new business opportunities for foster children, increasing their economic independence in the future. This article presents details of the event implementation, the results achieved, and its impact on participants and the foundation.

PELATIHAN ECO-PRENEURSHIP DI SMKS ST. BONAVENTURA I KOTA MADIUN

Vocational High School is a strategic educational place for bringing out entrepreneurial talents, especially eco-preneurship. The benchmark for success in organizing education in Vocational High Schools (SMK) is the number of SMK graduates who can be absorbed into the workforce and who can create jobs, thereby reducing the level of open unemployment in Indonesia. Eco-preneurship is a strategic step in reducing pollution preserving Indonesia's nature and supporting the green economy program of the Indonesian government. Eco-print is one alternative business opportunity in the fashion sector that promises to be environmentally friendly. As a real effort to establish cooperation in the field of learning and community service, eco-preneurship training activities aim to improve the ability of SMKS St. Bonaventura students, Madiun City in internalizing entrepreneurial characters, increasing insight into eco-preneurship, providing skills in making eco-print products through scarf media, and providing insight and training on business model canvas (BMC). Some of the training participants did not understand eco-printing and BMC, and after attending the training, almost 85% of the students were able to practice making eco-print scarves well and fill in the start-up business ideas through the BMC worksheet completely

How entrepreneurs engage with feedback during value creation – a taxonomy

PurposeFocused feedback, such as mentoring and coaching, is a crucial ingredient for generating the intellectual capital needed for successful venture creation and has become a structural resource offered to entrepreneurs in business incubator/accelerator programs. Yet so far, literature has remained silent on the way that entrepreneurs differ in their engagement with focused feedback in such programs. This study poses the question of how focused feedback engagement shapes cognitive development during value creation (i.e. business opportunity development), aimed at the construction of a taxonomy of such feedback engagement.Design/methodology/approachFocusing on cognitive learning outcomes, we carried out a qualitative analysis using NVivo to perform content analysis on the logbooks of 70 entrepreneurs engaged in business opportunity development in a highly regarded accelerator program.FindingsResults show that engagement with focused feedback and its effects relate to the state of tangibility of the entrepreneur’s value offer and to the amount of prior entrepreneurial experience. We also develop a promising taxonomy to classify entrepreneurs on their learning needs and outcomes (e.g. procedural versus declarative knowledge).Originality/valueThis study brings together types of human learning (types of knowledge acquired) with types of focused feedback. This connection has been speculated to exist in entrepreneurial settings; this study provides strong initial evidence that argues for more explicit consideration in practice. Adding the intellectual capital perspective further enabled this study to better address implications for practice as well as motivate powerful new directions for research.

How does organisational culture affect agile projects? A competing values framework perspective

Purpose The literature has not yet delved sufficiently deeper into the holistic relationship between organisational culture and agile project management. This paper aims to address this literature gap by delineating the specifics of why and how organisational culture affects agile project management. Design/methodology/approach This paper addresses this literature gap by conducting a systematic literature review of empirical research investigating how organisational culture affects agile project management. This paper draws on the competing values framework to explain how various dimensions of organisational culture influence the technical and social streams of agile project management. Findings The findings underscored the detrimental effects of hierarchical culture, characterised by rigid organisational structures, formal communication with management and resistance to change acceptance, on both the technical and social aspects of agile projects. In contrast, the positive impact of group culture on the social aspect was evident through employee empowerment and teamwork. Moreover, the rational culture dimension demonstrated favourable effects on both streams, emphasising market knowledge, financial development and business opportunities. Finally, the developmental culture dimension supported customer collaboration, knowledge sharing and innovation. Originality/value The focus on the “mutability” of organisational culture has led to four research propositions delineating specific ways of cultivating organisational culture to be more conducive to agile projects, marking a first in the academic literature.

Program Pengembangan Sabun Tangan Berbasis Eco-enzyme dari Sampah Organik di Kelurahan Gebang Putih, Surabaya

Eco-enzyme-Based Hand Soap Development Program from Organic Waste in Gebang Putih Village, Surabaya, aims to reduce organic waste and increase public awareness of the importance of environmentally friendly products. Eco-enzymes, which are produced from the fermentation of organic waste such as fruit and vegetable scraps, are used as the main ingredient in the manufacture of hand soap. This process not only reduces the amount of waste that ends up in landfills, but also results in a safe and effective product for hand hygiene. This research involves several stages, including the collection and sorting of organic waste, the fermentation process to produce eco-enzymes, and the formulation and testing of the resulting hand soap. The people of Gebang Putih Village are actively involved in every stage of the process, both through education and direct participation in soap making. The results of the program show that eco-enzyme-based hand soap has good quality and is well received by the community. In addition to providing solutions to the problem of organic waste, this program also contributes to improving the local economy by providing new business opportunities for the community. Thus, this program is expected to be a model that can be replicated in other regions, in order to support environmental sustainability and community welfare.

Power-to-X Economy: Green e-hydrogen, e-fuels, e-chemicals, and e-materials opportunities in Africa

Africa has enormous potential to produce low-cost e-fuels, e-chemicals and e-materials required for complete defossilisation using its abundant renewable resources, widely distributed across the continent. This research builds on techno-economic investigations using the LUT Energy System Transition Model and related tools to assess the power-to-X potential in Africa, for meeting the local demand and exploring the export potential of power-to-products applications. In this context, we analysed the economic viability of exporting green e-fuel, e-chemicals and e-materials from Africa to Europe. We also present the core elements of the Power-to-X Economy, i.e., renewable electricity and hydrogen. The results show that hydrogen will likely not be traded simply due to high transport costs. However, there is an opportunity for African countries to export e-ammonia, e-methanol, e-kerosene jet fuel, e-methane, e-steel products, and e-plastic to Europe at low cost. The results show that Africa's low-cost power-to-X products backed by low-cost renewable electricity, mainly supplied by solar photovoltaics, is the basis for Africa's vibrant export business opportunities. Therefore, the Power-to-X Economy could more appropriately be called a Solar-to-X Economy for Africa. The Power-to-X Economy will foster socio-economic growth in the region, including new industrial opportunities, new investment portfolios, boost income and stimulate local technical know-how, thereby delivering a people-driven energy economy. Research on the topic in Africa is limited and at a nascent stage. Thus, more studies are required in future to guide investment decisions and cater to policy decisions in achieving carbon neutrality with e-fuels, e-chemicals, and e-materials.

The Influence of Business Capital, Business Opportunities, and Motivation on Community Entrepreneurial Interest

This research aims to determine the influence of business capital, business opportunities and motivation on people's entrepreneurial interest through research with a quantitative approach. The research population was the entire community in Tanjungan village and the research sample consisted of 110 respondents. This research uses primary data and secondary data with a Likert scale questionnaire via Google Form. This research data was processed through structural model analysis (SEM) with the help of AMOS charts. The analysis in this research is validity test (CFA), reliability test, normality test, goodness of fit and hypothesis test. Based on the research results, Business Capital has a positive but not significant effect on the entrepreneurial interest of the Community at the Aek Natonang Tourist Attraction Location in Tanjungan Village, Simanindo District, Samosir Regency. Hypothesis test results, Business Capital CR/tcount is 1.787 < t table nα/2df = 1.964 and value p-value is 0.007 < α = 0.05. This means that Business Capital has a positive but not significant effect on Entrepreneurial Interest. Business Opportunity with a calculated CR/t value of 3.109 > CR/t table 1.964 and a p-value of 0.022 < α =0.05. So it can be concluded that Business Opportunities have a significant and positive influence on Community Entrepreneurial Interest at the Aek Natonang Tourist Attraction Location in Tanjungan Village, Simanindo District, Samosir Regency. Motivation with a calculated CR/t value of 1.978 > CR/t table 1.964 and a p-value of 0.035 < α= 0.05. So it can be concluded that motivation has a significant and positive effect on Community Entrepreneurial Interest at the Aek Natonang Tourist Attraction Location in Tanjungan Village, Simanindo District, Samosir Regency.

Menumbuhkan Jiwa Entrepreneur Mahasiswa melalui Pelatihan Kreativitas dan Inovasi

Creativity and Innovation Training to Foster Entrepreneurial Spirit among Students aims to enhance students' knowledge, skills, and confidence in entrepreneurship. The training methods employed include lectures, group discussions, brainstorming, simulations, case studies, workshops, and individual mentoring. Training materials cover entrepreneurship concepts, business opportunities, entrepreneurial characteristics, brainstorming techniques, business model canvas, business plan components, marketing strategies, financial analysis, motivation, self-leadership, and time management. The training outcomes indicate an average increase in entrepreneurship knowledge test scores from 60 to 85. 25 students were able to develop complete business model canvases, and 22 students created comprehensive business plans. Participants also demonstrated improved abilities in generating creative and innovative business ideas, as well as increased confidence levels in initiating and developing businesses. This training shows positive results and can serve as a model for other entrepreneurship training programs to assist students in achieving their career goals as entrepreneurs.

Pembuatan Lilin Aromaterapi dari Limbah Minyak Jelantah sebagai Upaya Pemberdayaan Ibu-Ibu PKK di Desa Kejagan

This Real Work Lecture (KKN) activity was carried out to empower Family Welfare Empowerment (PKK) mothers in Kejagan Village through training in making aromatherapy candles made from used cooking oil. The aim of this activity is to increase the knowledge and skills of PKK women in utilizing used cooking oil into economically valuable products, as well as providing an alternative home business that can increase family income. The method used was a demonstration, where the KKN team demonstrated the process of making aromatherapy candles from used cooking oil directly to the participants. The material provided includes an introduction to used cooking oil, making candles, adding coloring, and using essential oils as fragrances. After the training, participants are given the opportunity to practice making aromatherapy candles independently. Evaluation of activities shows that there has been an increase in the knowledge and skills of PKK women in utilizing used cooking oil into products of marketable value. Apart from that, participants were also enthusiastic about developing an aromatherapy candle business as a home business opportunity. This KKN activity can be a model for community empowerment based on local potential that can be applied in other villages.

Program Pengembangan Sabun Tangan Berbasis Eco-enzyme dari Sampah Organik di Kelurahan Gebang Putih, Surabaya

Eco-enzyme-Based Hand Soap Development Program from Organic Waste in Gebang Putih Village, Surabaya, aims to reduce organic waste and increase public awareness of the importance of environmentally friendly products. Eco-enzymes, which are produced from the fermentation of organic waste such as fruit and vegetable scraps, are used as the main ingredient in the manufacture of hand soap. This process not only reduces the amount of waste that ends up in landfills, but also results in a safe and effective product for hand hygiene. This research involves several stages, including the collection and sorting of organic waste, the fermentation process to produce eco-enzymes, and the formulation and testing of the resulting hand soap. The people of Gebang Putih Village are actively involved in every stage of the process, both through education and direct participation in soap making. The results of the program show that eco-enzyme-based hand soap has good quality and is well received by the community. In addition to providing solutions to the problem of organic waste, this program also contributes to improving the local economy by providing new business opportunities for the community. Thus, this program is expected to be a model that can be replicated in other regions, in order to support environmental sustainability and community welfare